Licensing & Registration Sr. Analyst

Overview

Under the direction of the Manager and referral team, evaluates prospective financial representatives for Northwestern Mutual contracting. Underwrites and approves contracts or refers them for additional direction or acceptability. Coordinates all histories with rules and regulations set by FINRA for registration and the State Insurance Departments for licensing.

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Underwrites financial representatives, associate financial representatives and field office representatives' applications for registration with the Financial Industry Regulatory Authority (FINRA), and State Securities departments for Northwestern Mutual Investment Services (NMIS) and Northwestern Mutual Wealth Management Company (WMC). Evaluates and processes registration upgrades. Performs analysis of complex and non-routine cases. Resolves issues that ensure compliance, reduce firm risk and facilitate the selling and solicitation process.

Identifies issues that need special handling. Summarizes facts and issues and appropriate referrals/recommendations to management, compliance and/or law as required. May perform additional responsibilities such as OSJ/RBO/SBO location registrations, Home Office Registrations, management agent and contract changes. Participates in data clean-up projects and proactively maintains NMFN data integrity.

Contract Underwriting (40%):
Reviews exceptions (tasks from SRC system) to ascertain that information on the application complies with state standards that can frequently change, e.g., fingerprint hits, state requirements, and non-routine processing. Underwrites diverse information on prospective and associate financial representatives obtained from the prospect; investigative agency; civil and criminal courts, credit reporting bureaus, motor vehicle departments, State Insurance Departments, FINRA and other sources.

Considerable judgment and negotiation skills are applied to evaluating exceptions, come to a decision mutually agreeable to customers while maintaining compliance with the company, state and legal requirements. Responsible for the justification and approval based on set thresholds. Analyzes background information including criminal, civil, financial and employment histories assuring they meet Northwestern Mutual contracting standards as well as FINRA regulatory standards.

Develops a detailed understanding of investigative reporting, background checks, court systems and documentation and an understanding of legal terms. Manages mass management agent contract changes (MAC's) for network and district offices. Processes contract changes for college interns, agent transfers and any other contract change that cannot be processed in SRC. Demonstrates a thorough working knowledge of SAS/CMS evaluation system, Agents database, Word (special files, letters, reports) and SRC.

Recognizes when it is appropriate to obtain intervention by the referral team and must work with the field coordinators to make sure histories are acceptable and all appropriate documentation is obtained. Incumbent communicates frequently with Managing Agents, field staff and the prospects themselves, outside vendors, FINRA and several Home Office business partners which requires professional communication skills.

NMIS, FINRA, Model II and Model III Registration (30%):
Reviews exceptions (tasks from SRC system) to ascertain that information on the application complies with state standards that can frequently change, e.g., state requirements and non-routine processing. Independently underwrites financial representatives, associate financial representatives, field office representatives and Home Office applications for registration with FINRA and State Securities departments for Northwestern Mutual Investment Services (NMIS) and Northwestern Mutual Wealth Management Company (NMWMC).

May evaluate and process registration updates. Processes terminations of NMIS by the completion of U5's and handles the suspensions and inactivation of Registered Representatives in accordance with FINRA guidelines. Services phone calls related to the ADV (WMC advisory) Disclosure form. Provides clarification, confirms information, and gathers requests for changes or corrections. Performs follow up for outstanding items as required by FINRA.

Performs analysis of complex and non-routine cases. Resolves issues that ensure compliance, reduce firm risk and facilitate the selling and solicitation process. May handle advance registration activities in the following areas:
Branch Office Filings includes thorough understanding of OSJ, RBO and SBO requirements. Collection, evaluation and processing of Form   information. Maintaining internal and external data bases of OSJ, RBO and SBO information. Evaluation and payment of state branch office filings including credential checking of supervisors. Ability to produce data and verify…